Wyeth closes 165 million Euros deal

21.11.2006

Brussels – Just before the commencement of clinical trials, Ablynx, a Belgian biotech company which is developing a new class of drugs based on DNA, has closed a deal worth up a165 million with the US vaccines specialist Wyeth. The agreement allows Wyeth to develop a new generation of anti-TNF treatments for diseases such as rheumatoid arthritis using ultra-small nanobodies. Ablynx has granted exclusive worldwide rights for the use of the technology to target tumor necrosis factor alpha (TNFa), a protein implicated in inflammation, which is inhibited by existing injectable drugs such Wyeth’s Enbrel. Backed by this important pharma deal, Ablynx hopes to go public next year.

Brussels – Promethera Biosciences has completed a Series B financing round, generating proceeds of €23.6m. The Belgian cell therapy company secured a capital increase of €17m from its new investors, among them the venture arms...

Leuven – Biopharmaceutical company ThromboGenics has entered into an agreement with Alcon Inc., a division of Novartis for the commercialisation of its product ocriplasmin in all markets outside the U.S. ThromboGenics said it...

Amsterdam Molecular Therapeutics has announced a financial manoeuvre aimed at getting the biotech out of a hopeless situation. The assets and – more importantly – the liabilities of the drug developer will be acquired by a newly...

Illinois/Mechelen – US pharma major Abbott has paid US$150m upfront to Belgian biotech firm Galapagos NV to enter into a global development and distribution partnership for its first-in-class selective oral JAK1 blocker that has...

Amsterdam - Amsterdam Molecular Therapeutics has announced a financial manoeuvre which is aimed to get the biotech out of a dead end. The assets and – more importantly – the liabilities of the drug developer will be acquired by...

Glasgow/Leuven - With a little help from the EU, two biotech companies are banding together to develop the first stem cell therapy against rheumatoid arthritis. UK-based Sistemic will work with TiGenix to develop the Belgian's...

Amsterdam – Two elephants in the biofuels business join forces. Dutch food and chemicals group Royal DSM and POET, LLC, a US-based ethanol producer, announced a plan to build a commercial cellulosic ethanol plant. POET–DSM...

Heerlen - Royal DSM N.V will be the industrial partner to the Panoptes consortium, which aims to develop novel drug delivery technology for the posterior eye segment. The four year project is supported by EUR4m in funding from...

Leiden - Dutch Pharming Group NV has taken a further step to secure sound financing even beyond the recent milestone payments. The drug developer announced that it has entered into a financing of approximately €8.4 million by...

Ghent – Just days after US pharmaceuticals giant Pfizer pulled out of a rheumatoid arthritis pact with Ablynx NV, the Belgian biopharmaceutical company expanded its relationship with Merck Serono. Ablynx has now entered into a...

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